One in five UK families admit they are 'living on the edge'
UK families are facing an uncertain financial future with one in five admitting they are living on edge.
Frightening research published today shows that 20 per cent of families are struggling to cope financially while another two-fifths are “just getting by”.
The survey by think tank Centre for the Modern Family shows people are being battered by increased living costs and falling wages.
They’ve also been whacked, by the climbing cost of childcare and the continuing harsh economic climate, as well as many being hit by the Coalition’s cutbacks.
Welsh families have been hardest hit by financial woes with 57 per cent saying it is their biggest challenge compared to a national average of 45 per cent.
Meanwhile young families are being forced to resort to desperate measures. Eighteen-to-32 year olds with children are twice as likely to have turned to payday loans and 50 per cent more likely to have begun flogging their possessions online than average.
One in five of them have been left unable to pay household bills while one in eight have even skipped meals in order to ensure their family eats.
Family help has come to the fore as the cash crisis has deepened, according to the Scottish Widows-funded survey, with one in five people borrowing from family members in the past year.
Lord Leitch, chair of Centre for the Modern Family, said: “Families are making real sacrifices just to get by.
“Young people in particular face a very different kind of working life from the one that their parents and grandparents experienced.
“Affordable housing and a comfortable retirement are just two aspects that cannot be taken for granted.”
Another survey published today confirms that Britons can no longer afford to be a nation of savers.
In fact a fifth of adults - 11 million people - have absolutely no savings, according to Santander.
The bank also says the average monthly amount saved has shrunk 7 per cent in the past year, from £112 to £105.
- 2 Why this father didn’t hide his daughter’s heroin overdose in her obituary
- 3 Smartphones are making children borderline autistic, says psychiatrist
- 4 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
Nepal earthquake in pictures: Photos show devastation caused by 7.8 magnitude earthquake
Nepal earthquake: More than 1,100 killed across four countries and in Mount Everest avalanche
Royal baby: Live updates as superbug closes ward at St Mary's Hospital where Duchess of Cambridge is due to give birth
Hermann Goering's daughter fails to reclaim items looted by Nazi deputy during WWII
Teaching profession headed for crisis as numbers continue to drop and working lives become 'unbearable'
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
£26000 - £28000 per annum + benefits : Ashdown Group: Senior Accounts Assistan...
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£22000 - £40000 per annum: Recruitment Genius: This company is part of a Group...
£16000 - £18000 per annum: Recruitment Genius: Are you a a young, dynamic pers...